Rehab Project on 37th Street in Sacramento = Good News for the Oak Park Neighborhood

What do you get when a builder runs out of money in the current economy, but is only half-way finished with a house? Answer: Probably a foreclosure. This was certainly the case with three 2,222 square foot 4/2.5 properties on the corner of 37th Street and 12th Avenue in the Oak Park Area of Sacramento. 

I am very pleased to see these foreclosures were purchased earlier this year in a bundle deal by the same buyer for $35,000 each, and they are currently being rehabbed. When I think of an area improving, this appears to be a win because improvement happens one house at a time, doesn’t it?

Comments

  1. says

    Although I don’t live in your area, I am really pleased to see that someone is writing articles like what you have in your blog about rehab projects. You’re right: when people see depressed properties getting fixed up, they are more likely to consider purchasing a property in that area (or purchasing another distressed property to fix up). At some point, it hits the tipping point.

    • says

      Thanks Alison. You are so right!!! My hope is to see more and more of the “tipping point” in this particular Sacramento neighborhood. You guys don’t have blight though in Texas though, right? 🙂

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